Deep-tech company Seventh Sense will establish an artificial intelligence (AI) research and development hub in Melbourne.
Victoria’s thriving tech ecosystem, international R&D capabilities and skilled workforce attracted the Singaporean company to setup in the state.
The startup specialises in AI-based computer vision and cryptography for defence, security, fintech and retail. The R&D hub will be integral to the company’s development of new technologies and commercialisation.
Ashish Kushwaha, Seventh Sense co-founder said, “Our shared vision and support from the Victorian Government is a winning combination.
“The R&D Hub will fast-track the development of our innovative technologies and allow us to access highly skilled talent to grow further,” he added.
To respond to a growing demand for its technologies and solutions across Asia, Australia and New Zealand, a team of engineers and scientists will undertake research and product development.
Seventh Sense plans to collaborate with Victorian universities to explore opportunities and develop new technologies to solve industry problems. These partnerships will have the potential to create pathways for internships or graduate positions at the company.
Seventh Sense has strong lead investors including Cap Vista, the strategic investment arm of Defence Science and Technology Agency, a statutory board under Singapore’s Ministry of Defence, and 500 Startups.
Victoria’s early-stage startup ecosystem value has more than doubled in the last year – up 125 per cent from $10.5 billion to be worth $23.6 billion.
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